“There Are More Bookmakers Now"

Sun (Auckland), Volume II, Issue 431, 13 August 1928, Page 1

“There Are More Bookmakers Now"

A.R.C. PRESIDENT’S CLAIM

GAMING BILL SUPPORTED

In moving the adoption of the report and balance sheet at the annual meeting of members of the Auckland Racing Club, the president, Sir Edwin fclitchelson, M.L.C., said:

“It is again a pleasure to me to congratulate members on the success of our last racing season’s operations, which has resulted in a profit of £15,077. After having written off for depreciation £ 13,155, as shown in the balance sheet, an amount of £1.922 remains to be carried forward to capital account, which now stands at £119,716. “It must be pleasing to members to know that the value of the club’s freehold property, purchased more than half a century ago, stands In the club’s books at the original purchase price, plus more recent purchases of freehold property which became necessary in order to keep pace with public and racing requirements. “The committee in framing the programme for the year 1928-29 has reverted to eight races each day for the spring meeting. There will still only be seven races a day at the winter meeting. “The amount paid away in stakes during the past season amounted to £64.200, in addition to £3lO iti sweepstakes which was provided by owners. “In taxation during the year the elub’s meetings have been responsible for the payment to the Government of £69,922 (£3,544 more than last year), which with land tax £1,580 and local rates, including water, £2,020, makes a, total of £73,522. The club received £250 as a rebate from the Government. “EXIGENCIES OF STATE’’ “The result of the above figures clearly shows that taxes and rates cost the club and public nearly £7,000 a day, and here I may mention that while I regret that the Government cannot see its way to reduce racing taxation, I fully realise that the exigencies of the State must come first, and I cannot see that any material reduction in racing taxation can be hoped for in the near future, as the Dominion’s interest bill is annually growing; but I would also like to point out that if the Government would take up and pass the Gaming Bill to provide for the telegraphing of money to racecourses, the revenue thus provided would enable the Government to either reduce taxation or do away altogether with the heavy tax on owners. This would greatly assist in eliminating the bookmakers —at the present time there are more bookmakers operating in New Zealand than ever before—and thereby greatly increase the amount that would naturally go through the totalisator. “The Government is continually being told that the taxation levied on racing is tending toward the ruin of the smaller clubs, without indicating in what direction taxation should be reduced. The rules of the conference clearly show how stakes are to be provided out of the totalisator receipts. Some clubs contribute a portion of the stakes out of ordinary revenue, and this, together with the contributions to the expenses of the conference, and the heavy expenditure necessary to comply with the requirements of the conference as regards racecourse equipment, affect the finances of the smaller clubs very materially.”